R/GA Ventures, the investment arm of international marketing company R/GA, is opening a blockchain investment studio in Oregon, the company announced in a press release published on April 24.
The studio, dubbed Oregon Enterprise Blockchain Venture Studio (OEBVS), will be launched in partnership with several local companies participating in the blockchain industry. Namely, the release cites Moda, Umpqua Bank, Portland State University, Oregon Health & Science University, Business Oregon, ConsenSys and blockchain research firm Smith + Crown.
Per the release, OEBVS aims to build a blockchain-based ecosystem and help the local businesses and institutions compete globally. The studio will reportedly focus on leveraging emerging startup products, services and tools to solve targeted business objectives for its partners and provide market opportunities, guidance and partnerships.
The announcement promises that the startups participating in the program will also receive mentorship from industry executives and obtain access to the company’s partners. OEBVS’ areas of interest include retail, insurance, health, finance, sports, manufacturing, logistics, energy and sustainability, transportation, Internet of Things, smart cities, food, advertising and marketing.
Startups can apply to the program through the OEBVS website after April 24. This program will take place out of R/GA's Portland Pearl District office, starting on July 29, and will conclude in October with a demo event. During the event, each startup will present what they are working on to industry leaders, partners, investors and customers from the tech community.
According to Crunchbase, R/GA is an international advertising agency headquartered in New York with an estimated annual revenue of $377.9 million.
As Cointelegraph reported last week, world famous tennis player Serena Jameka Williams revealed that she launched her investment business Serena Ventures and silently invested in over 30 companies, including major cryptocurrency exchange Coinbase.
Also last week, Reuters reported that venture capital investment in cryptocurrency and blockchain startups will likely set a new all-time high in 2019.